Former Chinese finance minister urges crypto study after US Bitcoin ETF shift
Lou Jiwei stressed that China must assess cryptocurrency developments, particularly as the US shifts policy on Bitcoin ETFs.
During a speech at the 2024 Tsinghua Wudaokou Chief Economists Forum in Beijing, former Chinese finance minister Lou Jiwei urged China to closely examine advancements in cryptocurrency.
According to Sina Finance’s report of the speech, the ex-minister highlighted the potential risks crypto poses to financial stability, including volatility and their role in money laundering.
He also noted the United States’ shifting stance toward cryptocurrencies, particularly in light of the US Securities and Exchange Commission approval of spot Bitcoin (BTC) exchange-traded funds (ETFs).
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Author: Josh O'Sullivan
